VIX Surges As Wall Street Tech Fears Mount
Traders are scrambling for protection early Monday, amid savage selling of technology shares.
The CBOE VIX index, a measure of expected S&P 500 volatility that's known as Wall Street's fear gauge, is soaring 28% to just above 19, as traders pay up for put options.
Put options provide the buyer with an opportunity to sell the underlying security at a particular level, and are often used to protect portfolios from market declines.
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